Gold Climbs as May Options Set to Expire

Gold and silver advanced and miners mostly rose

Traders rushing to purchase May gold futures options before they expired, coupled with rising international tensions around the Syrian regime’s purported use of chemical weapon, pushed gold up sharply in Thursday trading. A report from the International Monetary Fund also indicated strong gold purchasing by central banks last month.

Gold futures for May delivery surged 2.7% to $1,461.80 per ounce on Thursday, according to CME Group. Gold traded as high as $1,467.10 and as low as $1,427.50. Gold bullion closed in London at $1,467, according to BullionVault.